Granite Construction Q3 revenue up 11% to $1.1B; adjusted EPS $1.69 vs $1.28; CAP record $5.6B

GRANITE CONSTRUCTION INC

2023-Q3 EPS reported $0.40 revenue$2,575,440,000

Q3 revenue $1.1B (+11% YoY); adjusted diluted EPS $1.69 vs $1.28 in prior year.
Record Committed & Awarded Projects (CAP) of $5.6B, up $1.5B YoY.
Construction segment gross margin improved to 14.5% from 11.0% in Q3 2022.
2023 guidance reaffirmed: revenue $3.35-3.45B, adjusted EBITDA margin 7.5-8.5%.
I-64 High Rise Bridge project reduced Q3 gross profit by $8M; final completion expected Q4.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.4

GRANITE CONSTRUCTION INC reported the three and nine months ended September 30, 2023 results: revenue $1.1 billion, net income $58 million, EPS $1.13 per diluted share.

Period: the three and nine months ended September 30, 2023
Revenue: $1.1 billion
Net income: $58 million
EPS: $1.13 per diluted share
Result: reported results

Exact text from the filing

be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Granite Reports Third Quarter 2023 Results • Q3 revenue increased 11% year-over-year to $1.1 billion • Q3 diluted EPS of $1.13 and adjusted diluted EPS (1) of $1.69 • Operating cash flow increased $153 million sequentially • Record Committed and Awarded Projects ("CAP") (2) of

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Source: SEC EDGAR

accession 0000861459-23-000023

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